Brad Olsen: Economist recommends consumers reign in Black Friday spending - Heather du Plessis-Allan Drive

Black Friday shopping mania is expected to be clouded by the nation's dark economic outlook.

The Reserve Bank has hiked the Official Cash Rate up 75 basis points to 4.25 percent - and is forecasting a recession will strike midway through next year.

The governor has urged people to reign in on spending.

Infometrics principle economist Brad Olsen says consumers will be more careful, knowing their mortgages are about to go up.

He says that doesn't have to mean putting your wallet in the freezer - but maybe just doing two sales today, rather than three or four online.

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